Family Office Design & Best Practices Workshop

This day and a half workshop is designed for leaders of newly liquid families and newly established family offices. This workshop will cover the best-practice steps one should should take when establishing a formal family office. 

  • About
  • Agenda
  • Speakers
  • Accommodations
  • Sponsors

Designing your family office
Establishing a formal family office can be a daunting task. During this day and a half workshop, attendees will tailor their unique family situation to the family office blueprint template. Through the development process, attendees will dive into the five major elements of establishing a family office: goal setting, scope of services, investment guidelines and processes, operations, governance, and cost allocation. 

Attendees of the workshop will learn to:
- Define the role of their family office
- Identify the service needs of the family office
- Discover the most effective service delivery methods
- Name the three critical components of the investment planning process 
- Produce a process for measuring family office success
 
 
Continuing Education Credits
This workshop is eligible for CPE credits. 
 
 
Pricing
FOX Members: $1,695
Non-Members: $2,095
Organizations sending two or more attendee to this workshop will receive a 20% discount discount off additional registrations
FOX membership is not required to participate in this workshop. 
 
Related Links
 
Questions: email workshops@familyoffice.com or call 312.327.1231

Monday, May 13

8:00 a.m.
Breakfast and Registration 
 
9:00 a.m.
Welcome and Program Overview
 
9:45 a.m.
Setting Goals and Determining the Roles & Responsibilities of the Family Office 
FOX experts will discuss how to establish goals for and define the role of the family office, which will provide a framework of expectations for family members, family office staff and external advisors.  The group will engage in an interactive discussion regarding how to define success for different types of goals.
 
10:45 a.m.
Break
 
11:00 a.m.
Governance Models
Participants will learn about different governance structure options for organizing a formal family office, and how to formalize decision making through a governing board. 
 
12:00 p.m.
Lunch
 
12:45 p.m.
Scope of Services
FOX experts will discuss how a family needs assessment drives how you will manage your wealth, including a review of scope of service options, service delivery methods, and important components in the client service agreement.
 
2:00 p.m.
Best Practices for Evaluating and Insuring Risk in the Family Office 
During this part of the workshop, attendees will hear from two representatives of a major insurance company.  They will provide an underwriter’s point of view to risks facing the family office today, how to work with underwriters to understand risk trends, structure of coverage, and pricing mechanisms in the market today.  There will also be attention given to developing risk management best practices and procedures in the family office, in order to assure that risks are being identified, measured, and transferred where necessary.  The session will include important takeaways such as checklists, resources and tools which can be used by the family office in this process.  The session will be completed with two interactive case studies, where the participants will have an opportunity to work with the underwriters and FOX team to assess and manage risk.
 
3:15 p.m.
Break
 
3:45 p.m.
The DNA of a Family Office: Building Blocks of Operations and Technology
One family office’s method for designing a technology infrastructure within the family office, including ramifications of different choices and pitfalls to avoid.
 
4:45 p.m.
Day One Closing 
 
5:00 p.m.
Adjournment
 
5:30 p.m.
Cocktail Reception
 
6:30 p.m.
Dinner
 

 

Tuesday, May 14

7:45 a.m.
Breakfast
 
8:30 a.m. 
Reflections and Insights from Day One 
 
8:45 a.m.
Investment Guidelines and Processes
Participants will learn how to approach the complexity of asset ownership by creating a custom entity map that will allow them to see where they need to define investment objectives, develop investment processes, benchmark results, and establish decision protocols.
 
9:45 a.m.
Break
 
10:00 a.m.
Considerations in Family Office Structure and Ownership
Participants will learn about different ownership and structure options for organizing a formal family office, and how to formalize decision making through a governing board.
 
11:00 a.m.
Allocation of Costs and Human Resources
Using proprietary benchmarking data, FOX experts will review the components of an office budget and methods for allocating costs among family members.  Participants will work with a tool that enables them to measure ROI by tying accomplishments of the office and advisors to the goals of the family.  
 
11:45 a.m.
Closing Comments and Reflection
 
12:00 p.m. 
Working Lunch: Developing Your Action Plan 
 
1:30 p.m.
Adjournment 
 
 

Craig DeLucia, Ernst & Young

Craig is an Executive Director in the Charlotte office of Ernst & Young, LLP and leads the Carolinas Personal Financial Services practice. He joined Ernst & Young, LLP in 2011. His primary experience is in serving the individual tax and long-term financial and estate planning needs of affluent families, private business owners and corporate executives, as well as their investment partnerships, private foundations, and related entities and trusts. He has experience working with Family Offices and coordinates the Carolinas Family Office Accounting Workshop, an annual continuing education event for Family Office employees and executives. 

David Hubbard, AIG

Mr. Hubbard is Vice President, Regional Marketing Manager for AIG Private Client Group in Los Angeles.  Private Client Group provides innovative insurance products and risk management services exclusively for high net worth individuals and family offices.  His responsibilities include daily interface with insurance brokers, underwriters, and trusted advisors to high net worth individuals and families.  Mr. Hubbard is a certified Continuing Education Trainer in California, and has presented on the subject of risk management and personal insurance to property and casualty Insurance Brokers, Attorneys, Financial Planners and Certified Public Accountants.   
 

Kent Lawson, Longview Asset Management 

Kent Lawson is Chief Administration Officer for Longview Asset Management, LLC, the investment arm of the Crown Family Offices in Chicago, Illinois.  Prior to joining the Crown enterprise in May of 2006, Mr. Lawson was President of Quartus Insource, Inc., which had provided Operational Management and Consulting for RIA’s, trust companies, family offices and other investment based companies.  He currently is a board member of the Advent Users Group and has in the past 25 years has served the wealth management community in various roles including independent consulting for SEC Compliance, the Depository Trust Company Corporation trade activities, GIPS Performance Measurement Standards, and as a Senior Consultant and Business Analyst for Advent Software.  

John McCall, AIG

John McCall is a Regional Underwriting Manager within the Financial Institutions Division of AIG US Financial Lines.  He oversees the underwriting of management, professional, employment practices, fiduciary, cyber, and fidelity products in the US for all asset managers, including Family Offices.  He earned a B.S. in Finance and Marketing from the University of San Francisco.  

Charles B. Grace, III, Senior Consultant

Charlie has more than 20 years of private wealth management experience, including 10 years at Ashbridge Investment Management LLC, a $1 billion multi-family office and single family office serving individuals and families with significant wealth. He is regarded as an expert in many facets of wealth management, including client relationships, business development, and corporate management and governance. He has been quoted widely in the media and is a frequent speaker at conferences focused on private investors and family offices.

Sara Hamilton, Founder & CEO

A recognized visionary in the private wealth community, Sara provides strategic direction for FOX and leads the development of programs and services supporting wealthy individuals, family office executives, and wealth advisory firms globally. For the past three years, she has been named as one of the "Top 50 Women in Wealth Management" by Wealth Manager. Sara is the co-author of Family Legacy and Leadership: Preserving True Family Wealth in Challenging Times and serves on the executive education faculty of the University of Chicago Booth School of Business for the "Private Wealth Management" course offered twice a year in Chicago.

Karen Neal, Managing Director, Consulting

Karen works with family groups and wealth advisors to bring processes and solutions to the challenges of preserving family wealth, including refining of business strategy to address transitions and changing needs of the family and firm. Her work with families has included development of family enterprise strategy, operational assessment of the family office, selection of wealth advisors, and wealth management industry education. She is a frequent speaker on the topic of family office best practices.

Hotel Accommodations

Sheraton Chicago Hotel & Towers
3
01 East North Water Street
Chicago, IL 60611
312.464.1000

Reserve Your Room Now

Family Office Exchange has reserved rooms at the Sheraton Chicago Hotel & Towers at a rate of $249/night plus applicable taxes. Reservations are on a first-come, first-served basis. 

To obtain the discounted nightly rate, contact the hotel directly at 1.877.242.2558 and mention FOX Family Office 101 or book online. The cutoff date for hotel reservations at this rate is Friday, April 26, 2013 at 5:00 p.m. local time at the hotel. 

Cancelation Policy: A deposit equal to the first night's room and tax will be charged at the time a guest makes a room reservation, and upon check-in, will be applied towards the guest's bill. A 72 hour cancelation policy applies to all group reservations. All deposits paid by the guests are refundable if notice is received by the hotel at least 72 hours prior to arrival and a cancelation number is obtained. 

All attendees are responsible for making their own hotel reservations.